Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income (Unaudited)

v3.19.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Interest and fees on loans $ 90,767 $ 78,991 $ 264,901 $ 222,285
Taxable securities 4,367 3,276 12,306 9,148
Nontaxable securities 316 583 1,155 1,862
Federal funds sold 1,768 892 4,985 2,137
Other interest and dividends 3,912 316 9,269 1,031
Total interest income 101,130 84,058 292,616 236,463
Interest expense:        
Deposits 24,787 15,210 71,172 36,545
Borrowed funds 3,338 1,985 9,576 6,097
Total interest expense 28,125 17,195 80,748 42,642
Net interest income 73,005 66,863 211,868 193,821
Provision for loan losses 6,985 6,624 16,754 14,884
Net interest income after provision for loan losses 66,020 60,239 195,114 178,937
Noninterest income:        
Securities gains 34 186 28 190
Increase in cash surrender value life insurance 787 787 2,327 2,350
Other operating income 453 294 1,172 922
Total noninterest income 6,210 5,065 16,930 14,421
Noninterest expenses:        
Salaries and employee benefits 15,499 13,070 44,103 39,464
Equipment and occupancy expense 2,387 2,193 6,933 6,260
Professional services 887 853 3,072 2,582
FDIC and other regulatory (credits) assessments (296) 675 1,804 2,967
OREO expense 78 289 312 765
Other operating expenses 6,606 5,544 20,285 17,136
Total noninterest expenses 25,161 22,624 76,509 69,174
Income before income taxes 47,069 42,680 135,535 124,184
Provision for income taxes 9,506 8,120 27,329 23,481
Net income 37,563 34,560 108,206 100,703
Preferred stock dividends 0 0 31 31
Net income available to common stockholders $ 37,563 $ 34,560 $ 108,175 $ 100,672
Basic earnings per common share (in dollars per share) $ 0.70 $ 0.65 $ 2.02 $ 1.89
Diluted earnings per common share (in dollars per share) $ 0.69 $ 0.64 $ 2.00 $ 1.86
Deposit Account [Member]        
Noninterest income:        
Noninterest income $ 1,735 $ 1,595 $ 5,223 $ 4,833
Mortgage Banking [Member]        
Noninterest income:        
Noninterest income 1,333 789 2,995 2,096
Credit Card [Member]        
Noninterest income:        
Noninterest income $ 1,868 $ 1,414 $ 5,185 $ 4,030